Eastplats reports its first full month of Circuit D production

TORONTO and JSE-listed Eastern Platinum (Eastplats) yesterday reported the first full month of production following the revamp of its small-scale platinum group metals (PGM) circuit known as Circuit D.

Eastplats president and chief executive Diana Hu said yesterday that Circuit D’s first full month of production was an important breakthrough for the company.

“It not only created a new revenue stream in addition to the company’s chrome production, but will also assist and accelerate the recommissioning of the PGM Main Circuit, which is expected to add a further 600 to 800 tons of PGM concentrates per month from September, a significant boost to the company’s operation and revenue growth,” Hu said.

Eastplats, which sells concentrate to Impala Platinum, said it had dispatched 199.8 dry tons of (PGM) concentrates containing 490.9 ounces of PGMs under the offtake agreement with Impala, within the production month of April 2021.

Eastplats completed the process upgrades to ensure a consistent production of a minimum of 200 tons of PGM concentrates per month from Circuit D.

The group said all concentrates produced reached the satisfactory quality requirements under the offtake agreement. It also said it had commissioned a life of mine design and schedule on the Zandfontein vertical shaft as the first step in evaluating and planning the restart of underground mining at Crocodile River Mine.

“The work is expected to be completed in the third quarter of 2021,” said the group.

Eastplats shares closed 2.95 percent lower at R4.61 on the JSE yesterday.